Amcor PLC $AMCR Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. decreased its holdings in Amcor PLC (NYSE:AMCRFree Report) by 72.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,013 shares of the company’s stock after selling 15,704 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Amcor were worth $239,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AdvisorNet Financial Inc purchased a new stake in shares of Amcor in the first quarter valued at approximately $25,000. DV Equities LLC purchased a new position in shares of Amcor during the 4th quarter valued at approximately $27,000. Brown Lisle Cummings Inc. grew its stake in Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the period. Larson Financial Group LLC grew its stake in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC increased its holdings in Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $42.68 on Friday. The company has a fifty day simple moving average of $40.96 and a 200-day simple moving average of $42.21. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.36 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94.

Amcor (NYSE:AMCRGet Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 77.4% on a year-over-year basis. On average, equities analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research note on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. BMO Capital Markets started coverage on shares of Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group set a $44.92 price objective on Amcor and gave the stock a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.08.

View Our Latest Analysis on AMCR

Amcor Company Profile

(Free Report)

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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